Elevated Private Wealth LLC grew its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 428.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,344 shares of the electric vehicle producer’s stock after purchasing an additional 2,711 shares during the period. Elevated Private Wealth LLC’s holdings in Tesla were worth $1,186,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in shares of Tesla by 2.4% during the 2nd quarter. State Street Corp now owns 117,456,756 shares of the electric vehicle producer’s stock worth $49,402,312,000 after buying an additional 2,761,298 shares during the period. Amundi lifted its holdings in shares of Tesla by 14.0% during the 1st quarter. Amundi now owns 22,174,884 shares of the electric vehicle producer’s stock valued at $8,243,513,000 after purchasing an additional 2,727,141 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Tesla by 3,205.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock worth $9,650,811,000 after acquiring an additional 20,810,386 shares in the last quarter. Legal & General Group Plc acquired a new position in Tesla in the 2nd quarter worth $8,535,612,000. Finally, Invesco Ltd. raised its stake in shares of Tesla by 14.0% in the 4th quarter. Invesco Ltd. now owns 16,980,122 shares of the electric vehicle producer’s stock valued at $7,636,301,000 after purchasing an additional 2,082,813 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on TSLA shares. Wells Fargo & Company reaffirmed a “buy” rating on shares of Tesla in a research report on Thursday, October 1st. BNP Paribas Exane dropped their price target on shares of Tesla from $280.00 to $268.00 and set an “underperform” rating on the stock in a research report on Thursday, September 24th. Morgan Stanley reaffirmed a “reduce” rating on shares of Tesla in a research report on Monday, September 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a report on Tuesday, July 21st. Finally, Citigroup restated a “market perform” rating on shares of Tesla in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $412.33.
Tesla Stock Down 1.3%
TSLA stock opened at $362.44 on Friday. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 335.60, a price-to-earnings-growth ratio of 23.84 and a beta of 1.92. Tesla, Inc. has a 12 month low of $297.38 and a 12 month high of $498.83. The company has a current ratio of 1.94, a quick ratio of 1.55 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $359.46 and a 200-day moving average price of $377.06.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.17). The business had revenue of $28.24 billion for the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a net margin of 3.67% and a return on equity of 3.82%. Tesla’s revenue was up 25.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 0.69 EPS for the current fiscal year.
Tesla News Summary
Here are the key news stories impacting Tesla this week:
- Positive Sentiment: Tesla’s Cybercab robotaxi fleet in Austin reportedly increased eightfold in one month to more than 300 vehicles, with Dallas potentially next. The expansion provides tangible evidence that Tesla’s autonomy strategy is progressing and could improve the long-term growth case. Tesla Cybercab robotaxi fleet article
- Positive Sentiment: A reported 1 GWh Megapack order from Apollo Power highlights potential demand for Tesla’s energy-storage products from AI data centers. California’s virtual-power-plant legislation and the opening of Tesla’s first heavy-duty Megacharger site, with 12 more planned, also support the energy business. Tesla Megapack order article
- Neutral Sentiment: Tesla is unveiling its long-delayed, approximately $200,000 next-generation Roadster, potentially featuring SpaceX-developed technology and a brief flight demonstration. The event could generate enthusiasm, but nearly a decade of delays and the vehicle’s niche luxury positioning make its near-term financial impact uncertain. Tesla Roadster reveal article
- Neutral Sentiment: Barclays suggested Tesla and SpaceX could announce a merger before Tesla’s December annual meeting. No agreement has been announced, leaving the speculation potentially supportive for sentiment but highly uncertain for valuation and governance. Tesla-SpaceX merger speculation article
- Negative Sentiment: Mike Snyder, Tesla’s vice president of energy and charging, stepped down as the company increasingly emphasizes AI. The departure raises questions about leadership continuity and the execution of Tesla’s energy-growth strategy. Tesla energy executive departure article
- Negative Sentiment: Analysts and financial commentary continue to flag Tesla’s extremely high valuation, weakening automotive margins, negative free cash flow and expectations for declining third-quarter earnings. Investors are also seeking evidence that robotaxis can generate meaningful revenue to justify the premium valuation. Tesla valuation and earnings article
Insider Activity
In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $360.13, for a total transaction of $938,498.78. Following the completion of the sale, the chief financial officer owned 25,972 shares in the company, valued at approximately $9,353,296.36. This represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 19.90% of the stock is owned by corporate insiders.
Tesla Company Profile
Tesla, Inc (NASDAQ:TSLA) designs, manufactures and sells electric vehicles, energy storage systems and solar energy products. Its vehicle lineup includes the Model S, Model 3, Model X, Model Y, Cybertruck and Tesla Semi. The company also develops vehicle software and driver-assistance features, operates a global Supercharger network and provides related vehicle services.
Tesla’s energy business offers battery storage products for residential, commercial and utility customers, including Powerwall and Megapack, as well as solar panels and solar roofing products.
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